An oil subsidiary in Germany previously controlled by a Russian oil giant is now under the control of the German government, it announced Friday.
The German government said it took control of Rosneft Deutschland GmbH and RN Refining & Marketing GmbH, two companies owned up until now by multinational oil and gas company Rosneft. The government said the move would ensure continued oil production as the international community looks to cut its oil dependence on Russia.
German’s Economy Ministry said Friday the companies will be put under the control of the Federal Network Agency. The ministry also said the agency will assume control of the companies’ shares in three refineries: PCK Schwedt, MiRo and Bayernoil.
R&I – TxPAT
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